Corvallis OR Real Estate and Community » Sellers

Remodeling Trends Have Changed

Debbie — Thu, 03 Jun 2010 07:11:37 +0000

When it comes to home ownership the remodeling trends of the recent past appear to have changed. The recent recession has left a permeating lifestyle change, one that has swapped over-indulgence with down-to-earth necessity. In other words, if it isn’t a necessity many people won’t do it.

It is a buyer’s market out there which means that the buyer is in control. A seller can no longer pass off a roof in poor condition or a faulty wiring system. If a homeowner wants to sell he will either have to make necessary repairs to his home or credit the buyer at closing.

Remodeling is on the upswing and for the first year since the height of the real estate market, the amount of money spent on remodeling is expected to increase. The only difference is what kind of remodeling is occurring, in other words if it needs fixing it is going to be fixed.

The days of bigger and better have passed, being replaced with the motto of living within one’s means and embracing the basics, and real estate in Corvallis is no exception to this rule.

Click here to read a recent article from the Wall Street Journal regarding the current state of remodeling.

Selling a Home in A Buyer’s Market

Debbie — Thu, 03 Jun 2010 07:05:58 +0000

It is no secret that it is a buyer’s market out there, great news for buyers, not so great for sellers. Sellers are no longer in a position to dictate the rules of the game and have to be careful how they respond and counter to offers, due to the fact that if a buyer doesn’t get his way he might just move on to the next seller, and there are a lot of sellers out there.

There are a few difficult things about being a seller today. A seller doesn’t know how long it will take to sell his home and when he gets a contract he can’t guarantee whether another one will come or not. What this means is that if a seller has to sell his home then he has to be wary of scaring the buyer away.

The inspection is one aspect of a contract where a seller can lose his shirt. If trying to sell your home it is a wise idea to have your home inspected before listing your home. This way you can make the necessary improvements and will avoid being surprised by unexpected requests. Because sellers are not in a position to capitalize on their real estate investment it is more important than ever to be on top of things, in order to retain as much value as possible.

An experienced Realtor is incredibly helpful in maneuvering a tricky real estate market, enabling a seller to evaluate his home, price it appropriately and sell it in a reasonable amount of time.

Contact me today to walk you through the steps of pricing your home in today’s market.

Determining A Home’s Value

Debbie — Thu, 03 Jun 2010 07:02:00 +0000

When selling a home one of the most important pieces of the puzzle for both the seller and the buyer is price, and let’s face it, price matters. The seller without a doubt has a value in mind when he decides to sell his home. A Realtor will conduct a Current Market Analysis (CMA), comparing homes that have sold in the area, both what similar homes have sold for and what has sold recently. Conducting a CMA should reveal what is a fair price to list a home at, however certain features can tweak the price per square foot value of a home, such as a home’s finishes, upgrades, and assets.

When a home goes under contract a professional appraiser will appraise it. The appraised value is similar to a CMA, it is based on the local real estate market, sales of comparable homes, the condition of the home and a few other criteria.

While the value of a home is first determined by the seller it ultimately is the buyer who sets the price, this is known as Market Value in real estate. Market Value is what a home actually sells for and can be higher or lower than asking price. A Realtor is a valuable tool in the selling of a home because pricing it right can designate how long it takes to sell.

Contact me to help establish a Market Value for your home.

Selling Your Home? Get in Spring Cleaning Mode

Debbie — Sat, 13 Mar 2010 00:22:49 +0000

We are rapidly approaching Spring and if you are selling your home or thinking about selling your home, you might want to get into the Spring cleaning mode. There is no doubt about it, across the board clean homes sell better than messy or dirty homes do. It is an unwritten, yet openly discussed, rule in real estate.

The main areas to focus on when cleaning, or examining your already cleaned home, are windows, walls, baseboards, bathrooms, closets and cabinets.

Windows should be clear inside and out. Large picture windows should offer a clear, smudge-free view.
Walls should be clean, free of holes and have a fresh coat of paint if needed.
Baseboards should be free of dust and clean as well.
Bathrooms should sparkle. Tile and grout should be clean, any cracked tiles should be replaced. Toilets, tubs and showers should be stain-free.
Closets and cabinets should be cleared of clutter, organized and neat. If there is a door or drawer the chances are good that a prospective buyer will open it.

The important thing to remember is that you never get a second chance to make a first impression. The better condition your home is in and the cleaner it appears the more likely it is to make a good impression.

Click here to view an article from Realty Times about selling a clean house.

The Reality of Realty

Debbie — Sat, 13 Mar 2010 00:20:04 +0000

The reality of realty is that searching for positive news about real estate is not that difficult these days. Foreclosures have dropped in certain areas of the Country. Some areas are showing rebounds, having an increase in sales volume and home values. The available home buyer tax credits and low mortgage rates are boosting home sales. Even the drop in January sales appears temporary because, after-all, the tax credit expires on April 30th and people will start pounding the pavement in search of the new home to use it on.

Real estate that is selling in most places is selling because the price is right. People are buying real estate that they view as priced appropriately. If the home is affordable it will sell. The real estate that is not selling is real estate that is owned by people who are having a hard time letting go of what they think their home is worth or who will lose their shirt if they sell at the correct price. The reality of realty is that home values are not nearly what most people thought they would be when they bought their homes at the height of the market.

Click here for a recent article from CNBC on what is going on in real estate right now.

January, Shmanuary, Look Ahead When it Comes to Real Estate

Debbie — Fri, 05 Mar 2010 01:37:33 +0000

The latest real estate headlines for the US are that home sales were down in January, some of these headlines even use the word “plunged”. However, there are a few areas scattered around that managed to buck this trend and no media frenzy can change that. Think about it, is it really a surprise that sales are down in January? January is the coldest month, even if you live in a southern state like Florida, who wants to move in to a new house in January.

Does anyone really feel like shopping in January when they have just completed a major holiday season that began with Thanksgiving at the end of November? Most people are just plain worn out by the time New Year’s Day is over, the last thing they feel like doing in packing up and moving. It is a month to relax and observe.

The original First Time Home Buyer Tax Credit was meant to expire in November and when it got extended and expanded people realized that they had more time to make a decision. January data is showing a dip because people wanted to stop and take a look at what the new year would bring. Now that 2010 is here and people can see that mortgage rates and property values are staying low, housing is bound to show a steady increase in sales and eventually prices as well. Even Warren Buffet appears optimistic, stating that he believes that housing problems will soon be behind us.

Click here to view Warren Buffet’s stance on the economy and real estate as a whole.

Clean Homes Show Better!

Debbie — Sat, 20 Feb 2010 20:17:32 +0000

Clean Homes Show Better–Five Areas To Scrub to Make Yours Sparkle

by Phoebe Chongchua

So, here’s a question for you. Would you rather walk into a clean home or a dirty one? No, it’s not a trick question but it is an important one. You see, when it comes to selling a home, many people forget how important the answer to that question really is. Sellers get busy looking for their new home, preparing the kids for a move, packing up their belongings, getting organized for their new life and relocation so much that sometimes their home that’s for sale doesn’t get the TLC that’s needed to push it to the top of the buyers’ must-have list.

It’s not until the home sits on the market for long periods that sellers realize something has to change. Read more…..

Selling Your Home? Choose the Right Realtor

Debbie — Thu, 07 Jan 2010 16:49:14 +0000

Take time to choose the right broker when selling your home

When preparing to sell your home it is important to find a real estate professional that will best suit your needs. A warm handshake and a friendly smile is all well and good but if you want to sell your home pick a broker that is experienced and knowledgeable, someone that will do the best job for you. When selecting your real estate agent here are a few things to keep in mind:

Data. Get a prospective Realtor to bring in a copy of what they have listed and closed. They can present you with an MLS report that displays their inventory.

References. Get references from a potential Realtor and call them. Find out what other people’s experience with a particular Realtor has been.

Price. Get an evaluation of your property. A solid real estate professional will be able to detail what has been selling and for what price. He will be able to evaluate your home and your location, giving you a value for your home that will help sell it not deter people from looking at it.

Plan. What does your Realtor plan to do for you in terms of marketing, sales, listing, etc. Make sure he has a plan for your house and find out what he is willing to do to get it sold for you.

Real estate is often a person’s most valuable asset. Do your legwork and choose the best broker for your home. He or she should be a salesperson. If they can sell themselves to you perhaps they are halfway to selling your home for you as well.

Remodeling? Exterior Improvements Give More Bang for the Buck

Debbie — Sun, 03 Jan 2010 21:24:55 +0000

Exterior improvements give more of a return when remodeling

There is an annual report that examines the cost versus value for home remodeling. The report is helpful for those who are considering making improvements to their homes, especially if their home is one that they consider selling in the near future. Historically, bedrooms and bathrooms are where people consider spending their money but the return on the remodel investment is not necessarily there.

According to the 2009 Remodeling Cost vs. Value Report the best return for your money are exterior improvements that often are lower cost projects to begin with. Adding decks, replacing siding, new doors and windows are among projects that recoup the most money when re-selling a home. The return on these projects is typically 80% or more.

The annual report shows how important first impressions are. If you are considering selling your home make sure that the exterior is as eye catching as it can be.

Click here to learn more about remodeling costs versus value at The National Association of Realtors’ website.

Two-Year House Price Depreciation Ends

Debbie — Wed, 30 Dec 2009 19:36:33 +0000

U.S. house prices edged up 0.2 percent between the second and third quarter, ending a two-year skid, according to the latest quarterly housing valuation analysis by IHS Global Insight. California led the nation with a 2.1 percent home price increase during the quarter. Of the 330 metro areas analyzed in the House Prices in America study, 169 showed price increases during the quarter while 161 posted declines. By comparison, 317 metro areas had price declines in the fourth quarter of 2008.

In annual terms, house prices nationwide edged up slightly by 0.9 percent during the third quarter. This marks the first increase since the second quarter of 2007 when the housing market began to decline. From their peak in 2007, U.S. housing prices have fallen an average of 10.7 percent.

The study also finds that the nation as a whole is slightly undervalued. None of the markets included in the study were found to be extremely overvalued in the third quarter, compared to 2005 when 52 markets fit that description. However, most of the markets that are somewhat overvalued are located in the Pacific Northwest. MON, DEC 28, 2009